8274 has the free wheel option - look for a knob on the side next to the ratchet brake. Pull it to disengage the cable drum from the motor.

8074 does not have the free wheel option and therefore is missing the free wheel knob. It was sold through AMC/Jeep dealers back in the '70s and '80s and may even have the AMC sticker on top of the aluminum gear housing. I have one of these on my 80.